Articles by Illana Melzer
Rising Star or Red Flag?: South Africa’s financial inclusion growth raises questions for the entire industry
South Africa placed second in a recent Brookings Institute study comparing financial inclusion in 21 developing countries – surpassed only by Kenya. But though this has led to celebration in some quarters, there’s a troubling aspect to these findings. Illana Melzer argues that the risks of burgeoning financial access and usage are too significant for beneficiaries, development organizations and donors to ignore.
- Education, Impact Assessment
The Dark Side of Financial Inclusion: Financial services companies in South Africa are monetizing financial illiteracy
The recently released findings of the 2013 FinScope survey highlight a significant increase in adoption of formal financial products in South Africa. On the face of it, this is good news - access to these products can help people live more financially secure and sustainable lives. But a closer look at the data reveals a more disturbing picture.